An early upthrust was blocked by the blue support turned resistance line. Price now under pressure by the black downtrend line. Breakdown below $3.14 to $3.13 may retest previous low at $3.05 . If this support does not hold a breakdown below $3.04 will see a retracement towards the red downside resistance turned support line. Any price rebound will meet immediate resistance at 20 EMA line followed by $3.20 to $3.18 resistance band . Clearing this resistance band will propel price towards 50 EMA resistance line and challenge the blue support turned resistance line for the third time .
No comments:
Post a Comment